金融科技和加密貨幣交易所開闢了 DeFi 大規模採用之路

DeFi 的擴張取決於金融科技公司和加密貨幣交易所之間的合作，與傳統金融機構相比，金融科技公司和加密貨幣交易所更有動力進行轉型。雖然大型鏈上經紀商可能不是最佳的擴展解決方案，但作為其他開發基礎的中立協議為大規模採用提供了更好的途徑。

Fintech and Crypto Exchanges Pave the Way for DeFi's Mass Adoption

金融科技和加密貨幣交易所為 DeFi 的大規模採用鋪平道路

The decentralized finance (DeFi) landscape has been abuzz with activity recently, with numerous financial technology (fintech) firms and crypto exchanges embracing the potential of layer-2 (L2) blockchains. This surge in interest stems from the remarkable success of Coinbase's Base L2, which has inspired entities to explore the benefits of L2s and establish their own L2-based offerings.

去中心化金融 (DeFi) 領域最近非常活躍，許多金融科技 (fintech) 公司和加密貨幣交易所都在擁抱第二層 (L2) 區塊鏈的潛力。這種興趣的激增源於 Coinbase 的 Base L2 的巨大成功，它激勵實體探索 L2 的好處並建立自己的基於 L2 的產品。

This trend is driven by a fundamental shift in the financial industry's landscape. Traditional finance (TradFi) incumbents, with their established infrastructure, have shown limited enthusiasm for transitioning to DeFi. In contrast, fintech firms and crypto exchanges possess a distinct advantage, as they lack their own financial infrastructure and rely heavily on TradFi's fee-laden services. Embracing L2s and DeFi protocols presents an opportunity for these entities to gain control over their infrastructure, enhance efficiency, and reduce operating costs, ultimately unlocking significant profit potential.

這一趨勢是由金融業格局的根本轉變所推動的。傳統金融 (TradFi) 現有企業憑藉其成熟的基礎設施，對向 DeFi 轉型的熱情有限。相較之下，金融科技公司和加密貨幣交易所擁有明顯的優勢，因為它們缺乏自己的金融基礎設施，並且嚴重依賴 TradFi 的收費服務。採用 L2 和 DeFi 協議為這些實體提供了對其基礎設施的控制權、提高效率並降低營運成本的機會，最終釋放巨大的利潤潛力。

"TradFi has very little interest in moving to DeFi, to be frank, just because they have such an unfair advantage with their current infrastructure," observed Paul Frambot, CEO of DeFi lending firm Morpho Labs. "However, fintechs don't have their own financial infrastructure, they have to go through all the fees of the TradFi guys. But they have distribution, they have adoption. So if they start owning their own infrastructure by building on top of layer-2s and immutable DeFi, then they can start generating more profits from it, gain efficiency and limit their operating costs."

DeFi 借貸公司 Morpho Labs 執行長 Paul Frambot 表示：“坦白說，TradFi 對轉向 DeFi 興趣不大，只是因為他們現有的基礎設施擁有如此不公平的優勢。” 「然而，金融科技公司沒有自己的金融基礎設施，他們必須支付 TradFi 人員的所有費用。但他們有分銷，他們有採用。所以，如果他們開始透過在頂層建造來擁有自己的基礎設施—— 2s 和不可變的DeFi，那麼他們就可以開始從中產生更多利潤，提高效率並限制營運成本。

Case in point, Robinhood, the popular trading platform, recently announced a partnership with L2 blockchain Arbitrum. Meanwhile, many other fintech firms have implemented wallet infrastructure to seamlessly integrate with Web3. These moves signal a clear recognition of the transformative potential of L2s and DeFi in disrupting the financial landscape.

舉個例子，受歡迎的交易平台 Robinhood 最近宣布與 L2 區塊鏈 Arbitrum 建立合作夥伴關係。同時，許多其他金融科技公司已經實施了錢包基礎設施以與 Web3 無縫整合。這些舉措標誌著人們清楚地認識到 L2 和 DeFi 在顛覆金融格局方面的變革潛力。

Another key element in DeFi's growth trajectory, according to Frambot, is the emergence of neutral protocols that serve as the foundation for various financial applications. These protocols, akin to the rails of the internet, provide a flexible and extensible platform for building diverse financial products tailored to specific use cases. This approach contrasts with monolithic on-chain brokers or funds like Aave or Compound, which face scalability limitations and challenges in meeting the diverse compliance requirements of a global market.

Frambot 表示，DeFi 成長軌跡的另一個關鍵因素是作為各種金融應用基礎的中立協議的出現。這些協定類似於互聯網的軌道，提供了一個靈活且可擴展的平台，用於建立針對特定用例量身定制的多樣化金融產品。這種方法與Aave或Compound等單一鏈上經紀商或基金形成鮮明對比，後者在滿足全球市場多樣化的合規性要求方面面臨可擴展性限制和挑戰。

"We can't have [a] one-size-fits-all monolith that meets all the different compliance needs of the world," Frambot emphasized. "People want different [know your customer] or risk. So you have to have the core protocol that is completely un-opinionated, and people build specific financial products on top for their specific use cases."

「我們不可能擁有一刀切的整體架構來滿足世界上所有不同的合規性需求，」Frambot 強調。 “人們想要不同的[了解你的客戶]或風險。因此，你必須擁有完全不帶偏見的核心協議，並且人們可以根據自己的特定用例構建特定的金融產品。”

Morpho Labs, which initially gained prominence as an optimization service for DeFi giants like Aave, exemplifies this shift towards neutral protocols. Morpho has evolved into a base-level protocol, similar to Uniswap, the leading decentralized exchange, enabling the development of specialized financial products that cater to diverse market segments.

Morpho Labs 最初是作為 Aave 等 DeFi 巨頭的優化服務而聲名鵲起，它就是這種向中立協議轉變的例證。 Morpho 已發展成為基礎級協議，類似於領先的去中心化交易所 Uniswap，支援開發迎合不同細分市場的專業金融產品。

Frambot believes that the path to mass adoption of DeFi lies in the convergence of fintech firms, crypto exchanges, and neutral protocols. This alliance creates a disruptive force with a compelling incentive to embrace new infrastructure and transform the financial industry. By harnessing the power of L2s and neutral protocols, these entities can unlock the full potential of DeFi, bringing its benefits to a much broader audience.

Frambot 認為，大規模採用 DeFi 的途徑在於金融科技公司、加密貨幣交易所和中立協議的整合。這個聯盟創造了一股顛覆性力量，具有令人信服的動力去擁抱新基礎設施和變革金融業。透過利用 L2 和中立協議的力量，這些實體可以釋放 DeFi 的全部潛力，將其好處帶給更廣泛的受眾。

As Frambot asserts, "I'm still frustrated that we're not changing finance at all. We're still playing for crypto users that already have crypto. The promise of the open financial infrastructure underpinning every financial service is miles and miles away from where we are right now."

正如Frambot 所言，「我仍然對我們根本沒有改變金融業感到沮喪。我們仍在為已經擁有加密貨幣的加密貨幣用戶服務。支撐每項金融服務的開放式金融基礎設施的承諾距離我們還有很長的路要走。

The fusion of fintech, crypto exchanges, and neutral protocols represents a pivotal moment in DeFi's evolution. Together, these forces have the potential to shatter the barriers that have hindered DeFi's mass adoption, ushering in a new era of financial innovation and inclusivity.

金融科技、加密貨幣交易所和中立協議的整合代表著 DeFi 發展的關鍵時刻。這些力量共同有可能打破阻礙 DeFi 大規模採用的障礙，開創金融創新和包容性的新時代。